In Japan, the trial of the founder of MtGox, mark Karpeles

in #bitcoin7 years ago

The former head of bitcoin exchange MtGox, mark Karpeles appear this week before a court in Japan on charges of theft and embezzlement of hundreds of millions of investor dollars. About it reports AFP.

32-year-old French entrepreneur was the founder of the exchange MtGox, through which between 2011 and 2013 there was a significant amount of traders. Largely thanks to the activity of MtGox bitcoin price at the time for the first time has overcome a mark in $1000, however, with the collapse of the exchange quickly went down.

MtGox is based in Tokyo, and at some point was the largest trading platform in the bitcoin ecosystem. The degree of dominance of MtGox in full say simple numbers: the exchange took about 70% of all transactions with cryptocurrency.

In early 2014, MtGox amid allegations of dirty game has stopped working. Mark Karpeles subsequently argued that the platform was under attack, however, the study of the Japanese company WizSec published in April 2015, showed that MtGox started withdrawals back in 2011, and by 2013 in the accounts of the exchange has almost no money.

The loss of MtGox investors are estimated at 850 000 BTC. At that time it amounted to about $480 million at today's market rate we are talking about more than $ 2 billion.

In August 2015, Karpeles was arrested, and after some time he was formally charged with theft and embezzlement of investors ' funds. As far as we know, the Frenchman led a luxurious lifestyle, taking in Tokyo penthouse for $11 000 per month and buying, including prostitution.

However, less than a year in July 2016 Karpeles was free, paying a Deposit of 10 million yen. Under the deal with the authorities to Karpeles forbidden to leave Japan, he also refused any dialogue with the press.

Representing the interests of the French lawyer, Kiichi, meanwhile, said that Karpeles intends to insist on his innocence.

"He is calm and ready for trial," said the lawyer.
We will remind, in June the representatives of the new York blockchain startup Chainalysis said that they are aware of the whereabouts of 650,000 BTC, MtGox disappeared from the accounts.

In addition, the role of the mediator in the investigation of circumstances of bankruptcy of MtGox is the exchange Kraken. In 2016, it announced the completion of the consideration and the determination of the status of all customer complaints concerning the return of lost funds.

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